Emera (EMA) Given New C$48.00 Price Target at Scotiabank

Emera (TSE:EMA) had its price target dropped by analysts at Scotiabank from C$50.00 to C$48.00 in a report released on Tuesday. The brokerage currently has a “sector perform” rating on the stock. Scotiabank’s price objective points to a potential upside of 19.37% from the company’s previous close.

A number of other equities analysts have also recently issued reports on the company. National Bank Financial set a C$52.00 target price on Emera and gave the stock a “sector perform” rating in a report on Friday, December 29th. TD Securities set a C$53.00 target price on Emera and gave the stock a “buy” rating in a report on Friday, December 29th. BMO Capital Markets reduced their target price on Emera from C$54.00 to C$52.00 in a report on Tuesday, February 6th. Raymond James Financial upgraded Emera from a “market perform” rating to an “outperform” rating in a report on Friday. Finally, Royal Bank of Canada reduced their target price on Emera from C$57.00 to C$50.00 and set an “outperform” rating on the stock in a report on Tuesday. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Emera has a consensus rating of “Buy” and an average price target of C$50.31.

Shares of Emera (EMA) traded down C$1.32 during mid-day trading on Tuesday, reaching C$40.21. The company had a trading volume of 1,095,720 shares, compared to its average volume of 812,073. The firm has a market capitalization of $9,480.00, a price-to-earnings ratio of 15.05 and a beta of -0.01. Emera has a 1 year low of C$39.92 and a 1 year high of C$49.48.

Emera (TSE:EMA) last announced its quarterly earnings data on Tuesday, November 14th. The company reported C$0.55 EPS for the quarter, missing the Zacks’ consensus estimate of C$0.74 by C($0.19). The firm had revenue of C$1.43 billion during the quarter, compared to analyst estimates of C$1.55 billion. Emera had a return on equity of 5.43% and a net margin of 6.94%.

In other Emera news, Director Robert John Scott Hanf sold 20,775 shares of the firm’s stock in a transaction dated Friday, November 24th. The stock was sold at an average price of C$48.50, for a total transaction of C$1,007,587.50.

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Emera Company Profile

Emera Incorporated is an energy and services company, which invests in electricity generation, transmission and distribution, gas transmission and utility services. The Company operates through six segments: Emera Florida and New Mexico; Nova Scotia Power Inc (NSPI); Emera Maine; Emera Caribbean; Emera Energy, and Corporate and Other.

Analyst Recommendations for Emera (TSE:EMA)

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